NILE - NILE STOCK NEWS

BitNile Holdings, Inc. (AMEX: NILE) reported significant progress in Bitcoin mining operations at its Michigan data center, with an estimated annualized run rate of 474 Bitcoin. The company owns over 5,000 S19j Pro Antminers, expecting to increase this to approximately 9,300 by the end of May 2022. BitNile has also committed to acquiring a total of 20,600 Bitcoin miners, anticipating a production capacity of roughly 2.24 exahashes per second. However, ongoing logistical challenges have delayed the receipt of some miners, impacting operational timelines.

BitNile Holdings, Inc. (NYSE American: NILE) announced that its subsidiary, TurnOnGreen, Inc., secured a contract to develop a custom power solution for a global leader in Distributed Access Architecture. This solution will comply with Society of Cable Telecommunications Engineers specifications, enhancing the efficiency of cable access, fiber access, and wireless networks. It aims to reduce operational expenses and support the growing demand for broadband services. TurnOnGreen brings 50 years of experience in custom power solutions, positioning itself for growth in the broadband market.

Alzamend Neuro (ALZN) has announced positive results from its Phase 1 trial for AL001, a new lithium-delivery system aimed at treating Alzheimer's disease. The data confirm that AL001 is bioequivalent to marketed lithium carbonate, establishing safety and tolerability. Based on these results, the company plans to initiate a Phase 2A multiple ascending dose study in May 2022. Additionally, Digital Power Lending, a subsidiary of BitNile Holdings (NILE), has invested $4 million in Alzamend, enabling the company to progress without seeking new capital.

BitNile Holdings, Inc. (NILE) announced an additional investment from its subsidiary, DP Lending, into Alzamend Neuro, Inc. (ALZN), totaling $4 million, following the achievement of key milestones in Alzamend's Phase 1 clinical trial for AL001. AL001 is designed as a potential treatment for Alzheimer's, leveraging a novel lithium-delivery system. BitNile now beneficially owns approximately 9.9 million shares of Alzamend and has rights to further invest. Successful progression through Phase 2A trials is anticipated.

BitNile Holdings, Inc. (AMEX: NILE) announced that its subsidiary, Ault Alliance, Inc., will lend approximately $12 million and acquire assets of EYP, Inc. in a deal valued at $68 million. This acquisition, under Section 363 of the U.S. Bankruptcy Code, is subject to approval by the Bankruptcy Court. The process, expected to conclude by June 2022, will allow Ault Alliance to include the DIP loan value in its bid. The deal aims to enhance EYP's operational capabilities in architecture and engineering, focusing on sectors like education and healthcare.

BitNile Holdings (NILE) announced the successful installation of electric vehicle chargers at The Hampton Inn in Rancho Cucamonga, CA, by its subsidiary TurnOnGreen. The project includes Level 2 commercial chargers, accessible via a mobile app, QR code, or RFID card. This initiative aims to enhance EV charging accessibility and encourage the use of zero-emission vehicles. TurnOnGreen plans to expand its commercial charging network in North America to meet increasing demand amid proposed regulations for zero-emission vehicle sales. This aligns with California's push for cleaner transportation.

BitNile Holdings (AMEX: NILE) plans to invest $100 million in commercial loans to small public companies, secured by Bitcoin. This initiative, through its subsidiary DP Lending, supports companies with market caps under $250 million, utilizing Bitcoin for liquidity and smart contracts. The company aims to expand its Bitcoin mining capacity to 20,600 miners, generating roughly 2.24 exahashes per second. Annual revenue for DP Lending was reported at $17 million as of 2021, with total assets around $100 million.

BitNile Holdings Achieves 120% Revenue Growth

BitNile Holdings (NILE) reported a significant revenue increase of 120% to $52.4 million for the year ended December 31, 2021, up from $23.9 million in 2020. The company ended the year with total assets of $490 million and experienced a net loss reduction to $24.2 million. Key revenue growth drivers included lending and trading activities ($16.9 million) and cryptocurrency mining ($3.5 million).

BitNile Holdings (NYSE American: NILE) announced a total investment of $127 million in its bitcoin mining operations at its Michigan data center. This includes $114.7 million for acquiring bitcoin miners and $12.3 million for infrastructure upgrades. The company recently paid off $66 million in debt, making it virtually debt-free. BitNile has doubled its miner count to 4,754, expected to generate around 500 petahashes per second, and plans to invest an additional $70-$80 million for further improvements.